Jaitley, who is on a week-long visit to the US to attend the annual meetings of the International Monetary Fund and World Bank, said under the GST, the government has unveiled attractive schemes to ensure that the non-compliant in India become compliant. At another event, he claimed that India can become a much cleaner and bigger economy among the emerging economies as it has the capacity to implement bold decisions.

“Many attempts have been made by political groups to derail the GST, but I am glad that their own state governments are not listening to them because they know 80 per cent of the money is going to come to them so they don’t have to appease an ill-informed central leader of the party and let the revenues of their own state suffer,” Jaitley told a New York audience.

He was speaking during an event titled ‘India’s market Reforms: The Way Forward’ organised by the Confederation of Indian Industry in association with the US Chambers of Commerce.

He also addressed American investors for the first time since the implementation of major reforms like the GST. “All the steps, including financial inclusion, demonetisation, GST to the direct tax incentive, each one of this falls into place where brick by brick you lay down the structure in order to integrate an informal economy into a much larger formal economy,” Jaitley stressed.

Recent Messages ()

Please rate before posting your Review

OR PROCEED WITHOUT REGISTRATION

Share on Twitter

SIGN IN WITH

Refrain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. Help us delete comments that do not follow these guidelines by marking them offensive. Let's work together to keep the conversation civil.